Alibaba Group's yearly sales growth is expected to be the slowest since its 2014 launch, and the company's second-quarter results fell short of expectations due to decreasing domestic spending and more regulatory scrutiny.
Alibaba's NYSE stock was down 3% before the opening bell on Thursday, despite the fact that the company anticipates sales to expand by 20% to 23% in the fiscal year 2022.

Alibaba logo and symbol, meaning, history, PNG

During its annual Singles' Day, the world's largest online shopping festival, the firm saw its slowest revenue growth last week.
China's top digital firms have also come under fire, with regulators cracking down on powerful players ranging from Alibaba to Didi Global, alleging antitrust and security concerns.

Tencent, a Chinese gaming and social media company, reported its weakest quarterly revenue growth since going public in 2004 as a result of regulatory crackdowns. Since criticizing China's regulatory structure last year, Alibaba's founder Jack Ma has been virtually hidden from public view. His enterprise was then subjected to an intense government investigation, including in the cancellation of Ant's $37 billion IPO last November.

The e-commerce behemoth's sales increased by 29 % to 200.69 billion yuan ($31.44 billion) in the reporting quarter, the slowest rate of growth in six quarters. According to Refinitiv data, analysts predicted revenue of 204.93 billion yuan on average.

It earned 11.20 yuan per share on an adjusted basis, which was lower than the 12.36 yuan expected.

Ant Group, Alibaba's fintech subsidiary, made a profit of around 19.7 billion yuan in the quarter that ended in June. It accounts for Ant's profit one quarter late.